NEW YORK, Jan. 25, 2021 /PRNewswire-PRWeb/ -- As one of 20 winners of the Santander X Tomorrow Challenge, VU Security™, a global company focused primarily on fraud prevention and identity protection, is helping organizations mitigate cyber threats facing newly virtual workforces and their means of doing business in the wake of the COVID-19. From more than 2,250 innovative solutions submitted from around the world, VU Security's proposal was selected by Banco Santander in September as one of the winners of the Challenge's Re-Launch category. The award recognizes solutions that help businesses reopen and adapt to the new culture shift of working remotely and connecting virtually.
VU Security™ received 20,000€ to develop its solutions as part of its reward. In addition to the monetary prize, VU Security also received mentoring, roadshow assistance, and global exposure. The company has continued to build on its initial proposal to create remote identity verification and validation tools that help organizations secure transactions via mobile devices and through massively used messaging platforms like WhatsApp, Messenger.
In the award ceremony, Ana Botín, President of Banco Santander, stressed her advocacy and support for entrepreneurship and the need for innovative solutions like VU Security's. "We can come out of this crisis stronger if we're able to innovate and come up with new ways of tackling problems… That's why we've set this challenge which highlights the commitment we've shown to education, employment and entrepreneurship over the past 20 years."
"With living in this new normal and relying on technology more than ever before, consumers need to understand the importance of identifying what user uncertainty looks like," says Sebastian Stranieri, Founder & CEO of VU Security™. "It is our job as a leader in finance, fintech, and retail to inform and educate consumers about cyber criminality. With the recognition of Santander X Tomorrow Challenge and their advocacy in entrepreneurship, VU™ is able to share our solutions to the short-and long-term problems caused by the pandemic."
"The progress we've made since being announced winners of the Santander X Tomorrow challenge has been substantial," said Gaston Gene, Chief Operating Officer. "Our goal in the coming months is to continue seeking out solutions that will help extenuate the economic consequences derived from the COVID-19 Pandemic."
Since July, the benefits and resources obtained by winning the Santander X Tomorrow Challenge were used in adding new members to the VU™ team, at a rate of three collaboratives each month. At the same time, the company dedicated a portion of the resources in increasing the investment in the Research & Development area.
To learn more about VU Security and the work they do, please visit https://www.vusecurity.com/.
About VU Security™ LLC
VU™ is a global company that focuses on fraud prevention and identity protection. It provides robust citizen identity verification through the combination of traditional cybersecurity controls with geolocation, machine learning, ID recognition, and user behavior analysis. The company provides modular solutions for fraud prevention that include voice recognition, facial recognition, and multiple options of authentication. More than 130 clients of 25+ countries in Latin America, the United States, and Europe including governments, banks, and retail companies, integrate VU technology to their existing platforms to protect sensitive information. Among our clients we have Banco Santander (Fortune 500), Banco de la República de Uruguay (NYSE), Prisma, Falabella (Forbes 2000) and Globant (NYSE).
About Banco Santander and its support of Higher Education
standing dedication to higher education that sets it apart from the world's other financial institutionis. With over EUR 1,800 million invested in academic initiatives since 202 via Santander Universities and over 430,000 university scholarships and grants awarded since 2005, it has been recognised as one of the company that invests most in education in the world with 1,000 agreements with universities and institutions in 22 countries.
SOURCE VU Security™